US to explore investment opportunities in Telangana, Andhra

Posted on 9th Mar 2015 by mohit kumar

Hyderabad, March 6 (IANS) A US diplomat said here Friday he will visit various districts of Telangana and Andhra Pradesh to interact with the industrialists for promotion of trade between America and the two states.

Consul General Michael Mullins Friday told a delegation of Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry (FTAPCCI) that they are trying to understand the trade and investment opportunities

He lauded the initiatives taken by Telangana on brand building and Andhra Pradesh on smart city, said a statement by FTAPCCI.

The consul general invited FTAPCCI to SelectUSA Investment Summit happening on March 23-24 in Washington, which brings together investors from all over the world.

He said the governments of both the countries and the private sector need to collaborate on trade and commercial issues of mutual interest with a view to facilitate trade and investment opportunities across various sectors.

"Today, the India-U.S. bilateral cooperation is broad-based and multi-sectoral, covering trade and investment, defence and security, education, science and technology, cyber security, high-technology, civil nuclear energy, space technology and applications, clean energy, environment, agriculture and health," he said.

Mullins informed that presently the trade with India is $100 billion and there is a potential that it can grow $500 billion by 2020.

The delegation led by FTAPCCI president Shiv Kumar Rungta briefed the consul general about the activities.

Rungta said FTAPCCI will be opening its branches in Vijayawada, Visakhapatnam and Rayalaseema shortly.

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